Harmonic is an industry growth leader with roughly 43% year-over-year revenue expansion and a majority of earnings quarters delivering strong beats, but free cash flow is negative — consuming approximately 21% of revenue — and below-average business quality mean the 15% upside to resistance is a setup that depends heavily on growth execution to compensate for the absent cash-generation track record.
Thesis pillars
- Industry Leading Revenue Growth→Stable
- Negative Free Cash Flow Quality Drag→Stable
- Earnings Beat Pattern With Exception→Stable
- +2 more pillars — see the Why tab for full reasoning
Harmonic Inc. (HLIT) Stock Analysis
Technology · Communication Equipment
Wait for pullback to $11.11. Weak momentum; also recent C-suite change — blocks BUY_NOW at $11.26. Engine's entry $11.11 (200-day MA) is the shallowest technical level that clears the 2:1 A.R:R minimum. Key risks: Concentration risk — Geographic: Americas (89.0%); Concentration risk — Customer: top 10 customers (84.0%).
Harmonic Inc. is a global provider of software-based broadband access solutions (cOS) that enable cable and telco operators to deliver high-speed data, voice and video services, deriving approximately 89% of 2025 revenue from the Americas. The company's top 10 customers... Read more
Wait for pullback to $11.11. Weak momentum; also recent C-suite change — blocks BUY_NOW at $11.26. Engine's entry $11.11 (200-day MA) is the shallowest technical level that clears the 2:1 A.R:R minimum. Key risks: Concentration risk — Geographic: Americas (89.0%); Concentration risk — Customer: top 10 customers (84.0%). Chart setup: No clear chart pattern; technical signals are mixed. Earnings in 1 day. Wait until post-earnings. Score 5.9/10, moderate confidence.
Passes 5/8 gates (favorable risk/reward ratio, clean insider activity, news events none recent, semi cycle peak clear, materials cycle peak clear). Fails on weak momentum and earnings proximity 1d<=7d. Suitability: aggressive.
Recent developments
updated 2026-07-26Recent Developments — Harmonic Inc.
Latest news
- NEWS Harmonic Inc stock hits 52-week high at 12.2 USD - Investing.com — Investing.com positive
- NEWS Harmonic Defines a New Era of Broadband Connectivity at ANGA COM 2026 - marketscreener.com — marketscreener.com positive
- NEWS HLIT Stock Jumps As Harmonic’s Broadband Growth Story Accelerates - StocksToTrade — StocksToTrade positive
- NEWS Bluepeak Taps Harmonic to Speed Up Fiber Rollout and Expand into MDUs - PR Newswire — PR Newswire positive
- NEWS Harmonic to Participate in the 21st Annual Needham Technology, Media & Consumer Conference and the Rosenblatt 6th Annual — marketscreener.com positive
Generated 2026-07-26T23:07:11Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHGeographicAmericas89%10-K Item 1: 'We derived approximately 89% of our revenue from the Americas in 2025.'
- HIGHCustomertop 10 customers84%10-K Item 1: 'Sales to our 10 largest customers in 2025, 2024 and 2023 accounted for approximately 84%, 91% and 90% of our net revenue, respectively.'
- HIGHCustomersingle largest customer54%10-K Item 1: 'During the fiscal year ended December 31, 2025, one customer accounted for 54% of our net revenue.'
- MEDIUMSupplierPlexus Services Corp.10-K Item 1: 'Plexus accounts for the majority of the products we purchase from our contract manufacturers.'
- HIGHSuppliersole-source and limited-group component suppliers10-K Item 1: 'Many components, subassemblies and modules necessary for the manufacture or integration of our products are obtained from a sole supplier or a limited group of suppliers.'
Material Events(8-K, last 90d)
- 2026-06-16Item 2.01MEDIUMHarmonic completed the previously disclosed sale of its Video Business to Leone Media Inc. (MediaKind) for $145 million in cash, agreeing not to compete with the business for three years.SEC filing →
- 2026-06-16Item 5.02LOWNeven Haltmayer resigned as Senior Vice President and General Manager, Video Business, effective with the closing of the Video business sale; no successor named as the role is eliminated with the divested unit.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Rating Breakdown
1 floor-breaker·1 ceiling hit
Momentum below the gate floor. Component breakdown shows what dragged the score down.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Wait for pullback to $11.11. Weak momentum; also recent C-suite change — blocks BUY_NOW at $11.26. Engine's entry $11.11 (200-day MA) is the shallowest technical level that clears the 2:1 A.R:R minimum. Key risks: Concentration risk — Geographic: Americas (89.0%); Concentration risk — Customer: top 10 customers (84.0%). Chart setup: No clear chart pattern; technical signals are mixed. Earnings in 1 day. Wait until post-earnings. Target $13.30 (+18.1%), stop $10.76 (−4.6%), A.R:R 1.7:1. Score 5.9/10, moderate confidence.
Take-profit target: $13.30 (+18.8% upside). Target $13.30 (+18.1%), stop $10.76 (−4.6%), A.R:R 1.7:1. Stop-loss: $10.76.
Concentration risk — Geographic: Americas (89.0%); Concentration risk — Customer: top 10 customers (84.0%).
Harmonic Inc. trades at a P/E of 139.9 (forward 14.4). TrendMatrix value score: 6.2/10. Verdict: Buy (Wait for Entry).
13 analysts cover HLIT with a consensus score of 3.7/5. Average price target: $15.
What does Harmonic Inc. do?Harmonic Inc. is a global provider of software-based broadband access solutions (cOS) that enable cable and telco...
Harmonic Inc. is a global provider of software-based broadband access solutions (cOS) that enable cable and telco operators to deliver high-speed data, voice and video services, deriving approximately 89% of 2025 revenue from the Americas. The company's top 10 customers accounted for approximately 84% of net revenue in 2025, with a single customer alone representing 54%. On June 16, 2026, Harmonic completed the $145 million sale of its Video business to MediaKind, narrowing its focus to the Broadband segment going forward.